- USD/INR benefits from Monday’s bullish Doji candlestick formation.
- Bollinger’s upper band will take clues from the bearish MACD, overbought RSI to restrict the further advances.
- Sellers will look for entry below the mid-month lows.
While taking clues from the previous day’s bullish Doji, USD/INR rises 0.27% on a day to 76.78 during the initial hours of the Indian session on Tuesday.
The pair currently aims to question the previous record high of 76.92 while the Bollinger’s upper band, near 77.12, could restrict the further upside.
Also stopping the pair’s run-up beyond the record top would be overbought RSI conditions and bearish MACD signals.
Alternatively, the quote’s declines below the previous day’s bottom of 76.30 will negate the bullish candlestick formation.
However, the mid-month low close to 75.93 could check the bears ahead of highlighting the Bollinger support, at 75.10 now.
USD/INR daily chart
Trend: Bullish
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